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Texas has approximately 830 active drilling rigs, which accounts for around 47 percent of all U.S. drilling rigs and one quarter of drilling rigs worldwide.</span> <span id='quoteauthor'>Source: AEI Ideas</span>", "<span id='quote'>Oil production in the Lone Star State has more than doubled in less than three years, from 1.142 million barrels of oil per day (BOPD) in July 2010 to 2.295 million BOPD in February 2013.</span> <span id='quoteauthor'>Source: AEI Ideas</span>", "<span id='quote'>The exponential increase in Texas oil output over roughly the last three years has completely reversed the previous 23-year decline in the state’s oil production that took place from 1986 to 2009.</span> <span id='quoteauthor'>Source: AEI Ideas</span>", "<span id='quote'>In mid-2009, Texas was producing less than 20% of America’s domestic crude oil. The recent gusher of unconventional oil being produced in the Eagle Ford Shale and Permian Basin areas of Texas, thanks to breakthrough drilling technologies, has recently pushed the Lone Star State’s share of domestic crude oil above 30%.</span> <span id='quoteauthor'>Source: AEI Ideas</span>", ], numQuotes: 4, fadeDuration: 2, fadeoutDuration: 0, delay: 5, quotesInit: function(){ if (this.numQuotes < 1){ document.getElementById('quoterotator').innerHTML="No Quotes Found"; } else { this.quoteRotate(); setInterval('quoteRotator.quoteRotate()', (this.fadeDuration + this.fadeoutDuration + this.delay) * 1000); } }, quoteRotate: function(){ jQuery('#quoterotator').hide().html(this.quotes[this.i - 1]).fadeIn(this.fadeDuration * 1000).css('filter','').delay(this.delay * 1000).fadeOut(this.fadeoutDuration * 1000); this.i = this.i % (this.numQuotes) + 1; } } </script><style type="text/css">.goog-tooltip {display: none !important;}.goog-tooltip:hover {display: none 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ss-nav-menu-item-depth-0 ss-nav-menu-reg"><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/contact-us/"><span class="wpmega-link-title">Contact</span></a></li></ul></div></div> <div class="sidebarYellow"> </div> <div class="sidebarWhite"> <div class="text"> <div id="content"> <h1>Oil and Gas #QuickFacts</h1> <table style="width: 100%;" border="0" cellspacing="5" cellpadding="5" align="center"> <tbody> <tr> <td><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/og-education-resources/oil-and-gas-quickfacts/oil-quick-facts-013/" rel="attachment wp-att-3858"><img class="alignleft size-full wp-image-3858" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-013.gif" alt="Oil and Gas Quick Facts 013" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">Of all of the horizontal wells that have been drilled in the last five years, 99% are in the United States. Of all the wells that have ever been drilled, three quarters are in the United States.</span><br/> <em><span style="font-size: large;">Source: Peter Zeihan</span></em></td> </tr> <tr> <td><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-001.gif" rel="lightbox-0"><img class="alignleft size-full wp-image-3214" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-001.gif" alt="Oil #QuickFacts 001" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">The exponential increase in Texas oil output over roughly the last three years has completely reversed the previous 23-year decline in the state’s oil production that took place from 1986 to 2009.</span><br/> <em><span style="font-size: large;">Source: AEI Ideas</span></em></td> </tr> <tr> <td><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-002.gif" rel="lightbox-1"><img class="alignleft size-full wp-image-3260" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-002.gif" alt="#OilandGas #QuickFacts" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">In mid-2009, Texas was producing less than 20% of America’s domestic crude oil. The recent gusher of unconventional oil being produced in the Eagle Ford Shale and Permian Basin areas of Texas, thanks to breakthrough drilling technologies, has recently pushed the Lone Star State’s share of domestic crude oil above 30%.</span><br/> <em><span style="font-size: large;">Source: AEI Ideas</span></em></td> </tr> <tr> <td><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-003.gif" rel="lightbox-2"><img class="alignleft size-full wp-image-3261" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-003.gif" alt="#OilandGas #QuickFacts 03" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">At the current rate of increase in crude oil output in Texas, the state is on track to possibly produce almost 3 million barrels of oil per day by the end of 2013, which could move the state all the way up to No. 8 in the world for oil output by December.</span><br/> <em><span style="font-size: large;">Source: AEI Ideas</span></em></td> </tr> <tr> <td> <a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-004.gif" rel="lightbox-3"><img class="alignleft size-full wp-image-3325" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-004.gif" alt="#OilandGas #QuickFacts 004" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">In 2012, almost 1,500 new jobs were created in the Lone Stare State each business day, and many of those jobs were directly or indirectly related to the state’s booming oil and gas industry.</span><br/> <em><span style="font-size: large;">Source: AEI Ideas</span></em></td> </tr> <tr> <td><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-005.gif" rel="lightbox-4"><img class="alignleft size-full wp-image-3326" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-005.gif" alt="#OilandGas #QuickFacts 005" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">If Texas were a country it would be one of the top 15 largest oil producers in the world, on a par with the likes of OPEC members Venezuela, Kuwait, and Nigeria.</span><br/> <em><span style="font-size: large;">Source: oilprice.com</span></em></td> </tr> <tr> <td><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-006.gif" rel="lightbox-5"><img class="alignleft size-full wp-image-3327" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-006.gif" alt="#OilandGas #QuickFacts 006" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">Oil was first detected in Texas in 1543 when Spanish explorers saw oil floating on the water in the Galveston Bay, near Port Arthur, Texas. The first economically significant oil discovery in Texas did not happen for another 300 years.</span><br/> <em><span style="font-size: large;">Source: Texas Almanac</span></em></td> </tr> <tr> <td><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-007.gif" rel="lightbox-6"><img class="alignleft size-full wp-image-3328" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-007.gif" alt="#OilandGas #QuickFacts 007" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">No discovery had as great an impact on Texas’ oil production than the discovery of oil at the Spindletop well located south of Beaumont. Spindletop brought in over 17 million barrels of oil in 1902 alone.</span><br/> <em><span style="font-size: large;">Source: Texas Almanac</span></em></td> </tr> <tr> <td><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-008.gif" rel="lightbox-7"><img class="alignleft size-full wp-image-3329" src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/uploads/oil-quick-facts-008.gif" alt="#OilandGas #QuickFacts 008" width="403" height="403"/></a></td> <td><span style="font-size: x-large;">Oil production in the Lone Star State has more than doubled in less than three years, from 1.142 million bpd in July 2010 to 2.295 million bpd in February 2013.</span><br/> <em><span style="font-size: large;">Source: AEI Ideas</span></em></td> </tr> </tbody> </table> </div> <div id="sidebar"> <div id="flags" class="size"><ul id="sortable" class="ui-sortable" style="float:left"><li id="English"><a title="English" class="notranslate flag en"></a></li></ul></div><div id="google_language_translator"></div> <p class="parent"><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/og-education-resources/">Oil and Gas Education and Resources</a></p> <ul> <li class="page_item page-item-4004"><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/og-education-resources/frequently-asked-questions/">Frequently Asked Questions</a></li> <li class="page_item page-item-3213 current_page_item"><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/og-education-resources/oil-and-gas-quickfacts/">Oil and Gas #QuickFacts</a></li> <li class="page_item page-item-30"><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/og-education-resources/glossary-terms/">Glossary of Terms</a></li> <li class="page_item page-item-2349"><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/og-education-resources/common-abbreviations/">Common Abbreviations</a></li> </ul> <h2>Did you know?</h2> <div style="padding:0px 0px 15px 0px;"><div id="quotearea"><div id="quoterotator"> Loading Quotes... </div></div> <script type="text/javascript">quoteRotator.delay=10;quoteRotator.fadeDuration=4;quoteRotator.fadeoutDuration=2;quoteRotator.quotesInit();</script> </div> </div> <div class="clearFix"> </div> </div> </div> <div id="footer"><div class="text"><p>Aresco LP 861 N Coleman Road, Ste. 105 Prosper, TX 75078 <b>Phone: 972-992-3127</b> Fax: 972-992-3137 </p><div id="social"><a href="https://web.archive.org/web/20150312081312/https://www.facebook.com/pages/Aresco/510139499068554" target="_blank"><img src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/themes/arescoA3K/images/facebook.png" width="31" height="31" alt="Facebook"/></a><a href="https://web.archive.org/web/20150312081312/https://twitter.com/ArescoLP" target="_blank"><img src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/themes/arescoA3K/images/twitter.png" width="31" height="31" alt="Twitter"/></a><a href="https://web.archive.org/web/20150312081312/http://www.linkedin.com/company/aresco-lp" target="_blank"><img src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/themes/arescoA3K/images/linkedin.png" width="31" height="31" alt="LinkedIn"/></a><a href="https://web.archive.org/web/20150312081312/http://www.arescotx.com/feed/"><img src="https://web.archive.org/web/20150312081312im_/http://www.arescotx.com/wp-content/themes/arescoA3K/images/rss.png" width="31" height="31" alt="RSS"/></a></div> </center> <div class="clearFix"> </div> </div> </div> <div id="disclaimer"><center><p>This is not an offer to sell nor solicitation of an offer to buy any security. 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